Octopus TitanVCT PLC Octopus Titan Vct Plc : Change Of Investment Manager

 
TIDMOTV2 
 
 
   Octopus Titan VCT plc ("the "Company") 
 
   4 September 2017 
 
   Investment Management Arrangements 
 
   The Company is classified by the Financial Conduct Authority as an 
alternative investment fund (an "AIF"). Under the Alternative Investment 
Fund Management Directive (the "AIFM Directive"), member states are 
required to ensure that each AIF managed within the scope of the AIFM 
Directive has a single alternative investment fund manager (an "AIFM") 
responsible for ensuring compliance with the AIFM Directive. An AIFM 
must provide, at a minimum, portfolio management and risk management 
services to one or more AIFs as its regular business irrespective of 
where the AIFs are located or what legal form the AIFM takes. 
 
   AIFMs that manage AIFs whose assets under management ("AUM") do not meet 
the size criteria set out in the AIFM Directive ("sub-threshold") will 
not be subject to the full requirements of the AIFM Directive.   Whilst 
the Company is presently considered to be a sub-threshold AIFM, future 
fundraisings may mean this threshold is exceeded. Therefore, Octopus AIF 
Management Limited, which is a full scope alternative investment fund 
manager, has been appointed as the Company's fund manager and the 
current investment management agreement between the Company and Octopus 
Investments Limited ("OIL") has been assigned by way of the deed of 
novation from OIL to Octopus AIF (the "Assignment"), and subsequently 
amended and restated by way of a deed of variation and restatement in 
order to reflect Octopus AIF's status as a full scope AIFM. Pursuant to 
a sub-management agreement (the "Sub-Management Agreement") between 
Octopus AIF and OIL, OIL continues to provide portfolio management 
services to the Company and pursuant to a depositary agreement BNP 
Paribas provides depositary services to the Company. 
 
   As a result of the Assignment and the Sub-Management Agreement, the 
personnel managing the Company's portfolio, and the investment 
management fee payable by the Company, remain unchanged. 
 
 
 
   For further information please contact: 
 
   Nicola Board 
 
   Company Secretary 
 
   0207 776 8663 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Octopus Titan VCT plc via Globenewswire 
 
 
  http://www.octopusinvestments.com 
 

(END) Dow Jones Newswires

September 04, 2017 04:25 ET (08:25 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.